Business News of Thursday, 15 September 2022Source: www.ghanaweb.comThe International Monetary Fund has ranked Ghana in fourth place with the highest private savings in Sub-Saharan Africa (SSA). According to a recent report published by the Fund dubbed, ‘Private Savings and COVID-19 in Sub-Saharan Africa,’ Ghana increased its private savings from about 24 percent in 2019 to about 30 percent in 2022. It also noted that, despite the economic challenges posed in Ghana, private disposable income had also increased substantially. “The private saving rate in SSA has increased during the last two decades to an average rate of 17.3% in 2019 from 11.5% in 1983. Private saving rates, as expected, are particularly low in fragile states and low-income countries (LICs)”, it pointed out.

Source: GhanaWeb September 15, 2022 21:14 UTC